Oct
14
PNC Third-Quarter Profit Beats Estimates as Lender Trims Costs
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Net income climbs 3.4% to $1.07 billion or $1.90 a share
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Revenue declines 1.7% to $3.78 billion, missing estimates
PNC Financial Services Group Inc., the second-largest U.S. regional bank, reported third-quarter profit that beat analysts’ estimates as the lender cut costs to counter a decline in revenue.
Net income rose 3.4 percent to $1.07 billion, or $1.90 a share, from $1.04 billion, or $1.79, a year earlier, the Pittsburgh-based bank said Wednesday in a statement. The average estimate of 29 analysts surveyed by Bloomberg was for adjusted earnings of $1.78 a share. Revenue declined 1.7 percent to $3.78 billion, missing estimates…
PNC Third-Quarter Profit Beats Estimates as Lender Trims Costs
